The S&P/TSX Composite Index rose 0.55% to 20,138.35 during the June 7-11 trading week. The S&P/TSX Global Mining Index slipped 0.79% to 113.61, and the S&P/TSX Global Base Metals Index dropped 0.94% to 174.31. Spot gold decreased by US$14.20 per oz., or 0.75%, to US$1,877.80 per oz., and the S&P/TSX Global Gold Index fell 0.54% to 325.62.
Nutrien climbed 94 ? to $78.91 per share. The company announced that it plans to increase potash production in the second half of the year by about half a million tonnes due to strong demand. The fertilizer giant said the production boost should drive up its earnings in the second half of the year and will be reflected in updated guidance released with its second-quarter results. Production from the company's six potash mines is already fully committed through September, based on its original production guidance for 2021. In May, the company forecast 2021 potash production of 12.5-13 million tonnes, and also raised its adjusted net earnings per share guidance for the year to US$3.25 from US$2.55 per share.
Shares of Nighthawk Gold fell 15 ? to $1.16. The company announced that drilling at the company's Indin Lake gold project in the Northwest Territories, 200 km north of Yellowknife, has extended mineralisation at the Grizzly Bear deposit ahead of a mineral resource update expected later this year. Nighthawk released assays from 18 drill holes (4,048 metres) drilled at Grizzly Bear, which lies within the Colomac Centre area, two km southeast of the Colomac Main deposit. Highlights included drillholes GB21-13, which intersected 6.15 metres grading 4.64 grams gold per tonne starting from 45.35 metres, and GB21-07, which returned 10.25 metres of 2.77 grams gold from 102.50 metres. The drilling extended the deposit 175 metres along strike to the north. The company said additional infill drilling will focus on testing near-surface mineralization encountered to the north.
Lithium Americas dropped $1.17 to $18.19 per share. The company announced that Kelvin Dushnisky, the former CEO of AngloGold Ashanti, along with Jinhee Magie, the current CFO and senior vice president of Lundin Mining, will be joining its board. Lithium Americas is expanding its Cauchari-Olaroz project in Argentina's Jujuy province and advancing its Thacker Pass open-pit project in Nevada. At Cauchari-Olaroz, Lithium Americas is finalizing construction of the initial 40,000 tonne-per-year stage one operation, which remains on track for completion within the next year. First production is expected in mid-2022. In addition, the company and its joint-venture partner, Ganfeng Lithium, have approved a second-stage expansion, which is expected to add at least 20,000 tonnes per year to the mine's production capacity.